Minister of Finance and the Public Service
The Restructuring of Public Sector Compensation
Kingston, Jamaica: Thursday, November 24, 2022
The Government has never planned to recover and will not be recovering, allowances that have already been paid to public sector workers as part of the implementation of the new compensation system.
The restructured public sector compensation system represents a new compensation structure for the public sector. It is not simply an increase on existing rates nor is it an update of the existing system. It is a new concept on how public sector employees are compensated with a guaranteed minimum increase in net compensation.
The new compensation system seeks to provide a single salary payment to an employee that represents a basic salary and certain allowances. The construct of the single salary payment has taken into account all such allowances that are being discontinued.
Statutory deductions paid and recorded for each employee for the Fiscal Year 2022/23 will need to be in line with computations under the new system. However, given the Government’s guarantee of a minimum increase in net compensation, there won’t be any requirements for employees to make any repayments of allowances already received. The gross compensation under the new system has accounted for the statutory deductions that will be due and for the minimum net compensation increase guaranteed by the Government for all public sector employees.
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For more information contact:
Corporate Communication & Public Relations Branch
Ministry of Finance and the Public Service
30 National Heroes Circle
Kingston 4
Tel: (876) 932-4656/4660/4655
The Hon. Nigel Clarke, D.Phil., MP
Minister of Finance and the Public Service
30 National Heroes Circle, Kingston 4
Tel: (876) 932-4656 / 4660 / 4655
Eml: opedjamaica@gmail.com
Officers of the Revenue Protection Department (RPD), with assistance from the MajorOrganised Crime and Anti-Corruption Agency (MOCA), last week, arrested and charged Rhemalee Wint-Lewis, Tax Auditor of the Tax Administration Jamaica (TAJ) for breaches of the Corruption Prevention Act.
Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke has announced that it is no longer necessary for the Government of Jamaica to provide support for the salaries of SSL staff members; an insurance claim made by the Temporary Manager of SSL in April of this year, to SSL’s insurers in England, has now been settled. SSL received the insurance payout of US$1 million on Thursday, September 7th, enabling SSL to settle the remainder of their August staff salary bill last week Monday, September 11.
Standard and Poor’s Global Ratings, today, September 13, 2023, upgraded the Government of Jamaica’s Long-Term Foreign and Local Currency Issuer Default Rating (IDR) from ‘B+’ to ‘BB-’ with a stable
outlook.
The Financial Investigations Division (“FID”), is using the proceeds of assets confiscated under Jamaica’s proceeds of crime legislation to fund the extraordinary expenses it incurs in the SSL fraud investigation. These funds do not constitute tax revenue. These funds arise from the FID’s work in identifying, restraining, forfeiting and monetising the proceeds of crime. That is, these funds arise from the confiscation of ill-gotten gains.
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